UAM FUNDS
FUNDS FOR THE INFORMED INVESTOR sm
SUPPLEMENT DATED JUNE 22, 2000, TO THE
PROSPECTUS DATED AUGUST 9, 1999 FOR THE
JACOBS INTERNATIONAL OCTAGON PORTFOLIO (THE
"portfolio").
The portfolio's prospectus is hereby
supplemented to reflect the following:
INVESTMENT ADVISER
On or about July 12, 2000, a majority of
investment professionals at Jacobs Asset
Management will join Thompson, Siegel &
Walmsley, Inc. ("TS&W"). TS&W, a Virginia
corporation located at 5000 Monument Avenue,
Richmond, Virginia 23230, will then replace
Jacobs Asset Management as the investment
adviser to the portfolio. TS&W, an affiliate
of United Asset Management, will manage and
supervise the investment of the portfolio's
assets on a discretionary basis. TS&W has
provided investment management services to
corporations, pension and profit-sharing
plans, 401(k) and thrift plans, endowments,
trusts, estates and other institutions and
individuals since 1970.
Jacobs Asset Management and TS&W are both
affiliates of United Asset Management. On
June 19, 2000, Old Mutual, plc and United
Asset Management Corporation announced an
agreement for Old Mutual to acquire United
Asset Management. Old Mutual is a UK-based
financial services group with substantial
asset management, insurance and banking
businesses. The closing of the transaction is
expected to take place during the fourth
quarter of 2000 and is subject to a number of
conditions. As required by the Investment
Company Act of 1940, the portfolio's
shareholders will be asked to approve a new
investment advisory agreement with the
adviser, to take effect upon the consummation
of the transaction. The new agreement will
be identical to the current agreement in all
respects except for its effective and
termination dates. The new agreement will
have no effect on the contractual advisory
fee rate payable by the portfolio. No
changes are currently planned which would
affect the services being provided to the
portfolio.
PORTFOLIO MANAGERS
Effective upon the change in adviser, a team
of international investment professionals
will be responsible for the day-to-day
management of the portfolio. DANIEL L.
JACOBS WILL NO LONGER BE RESPONSIBLE FOR THE
DAY-TO-DAY MANAGEMENT OF THE PORTFOLIO.
PORTFOLIO NAME
Effective upon the change in adviser, the
name of the portfolio will change to the
"TS&W International Octagon Portfolio."
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